a303 Posted February 25, 2017 Report Share Posted February 25, 2017 (edited) 3 bed semi, average size. Rewired, entire house plaster boarded and skimmed, central heating fitted. Internal wall removed and rsj fitted. All new skirtings, doors etc. 12k. Then kitchen and bathroom on top which I fitted. Prolly another 6k. It quickly adds up. Luckily the house was at a suitable price. And when we sell, providing market says the same, I'd aim on a 20-25k return. Saying that. Spent countless hours on it and when your doing a lot yourself it can be a right uphill battle. Edited February 25, 2017 by a303 Quote Link to comment Share on other sites More sharing options...
Lloyd90 Posted February 25, 2017 Report Share Posted February 25, 2017 3 bed semi, average size. Rewired, entire house plaster boarded and skimmed, central heating fitted. Internal wall removed and rsj fitted. All new skirtings, doors etc. 12k. Then kitchen and bathroom on top which I fitted. Prolly another 6k. It quickly adds up. Luckily the house was at a suitable price. And when we sell, providing market says the same, I'd aim on a 20-25k return. Saying that. Spent countless hours on it and when your doing a lot yourself it can be a right uphill battle. It certainly does add up! I seen a lot of the houses that need totally re-doing are priced the same as the houses with new kitchen and bathroom and need almost nothing done. When you tell the estate agent "the one round the corner sold 6 months ago for £15k less and it had new bathroom and kitchen already done" they seem to start spluttering their words 🙄😂 Quote Link to comment Share on other sites More sharing options...
digger Posted February 25, 2017 Report Share Posted February 25, 2017 I looked at a house near my daughters school that needed a kitchen, two bathroom suites plus rewire and full decs. It was priced the same as every other house in the road. Made an offer and got knocked back. It's still on the market ( empty ) so guess the vendor is hoping the market goes haywire Quote Link to comment Share on other sites More sharing options...
scotslad Posted February 25, 2017 Report Share Posted February 25, 2017 The last 2 post sum up the problem, most folk see wot other houses are going for and expect there 'shell' to go for the same even thou it needs gutted. I'd say some of the prices for doing up a house are on the low side too, well i know i've spent more than that and that's often mates/myself doing the work and it was just basic fittings. About to start renovating a house and 1 price for plumbing alone was 15k and not a big house or fancy system (UFH of a log burner back boiler) Quote Link to comment Share on other sites More sharing options...
Lloyd90 Posted February 25, 2017 Report Share Posted February 25, 2017 The last 2 post sum up the problem, most folk see wot other houses are going for and expect there 'shell' to go for the same even thou it needs gutted. I'd say some of the prices for doing up a house are on the low side too, well i know i've spent more than that and that's often mates/myself doing the work and it was just basic fittings. About to start renovating a house and 1 price for plumbing alone was 15k and not a big house or fancy system (UFH of a log burner back boiler) I did think they seemed fair / low considering the other prices I've seen online for renovating a 3 bed semi. How do you know if a house needs rewireing etc? Quote Link to comment Share on other sites More sharing options...
scotslad Posted February 25, 2017 Report Share Posted February 25, 2017 I did think they seemed fair / low considering the other prices I've seen online for renovating a 3 bed semi. How do you know if a house needs rewireing etc? Really experience at guestimating how old the wires/plugs and switches look and state of the fuse board but ur really better getting a spark in or any other expert if ur not sure. But even then u can still get caught out at times, the roofer thought the roof looked ok and just needed ridges but when he got up the back side was all nail sick so needed re slated, from the ground it looked fine and hardly a missing slate.. But just look at fuse board if its not modern rcd breakers it probably is needing/almost needing rewired. Or if ur needing extra sockets in rooms or moving kitchen cooker/showers ur as well just rewirig as ur doing major work anyway I'd say that was my big mistake in my last house i stripped it back to masonry and done it right, insulation, rewired and plumbed, reslated etc and while i don't really regret it as i lived in it for years. But i bet if i just tarted it up and painted it and had it looking nice would of ended up with a similar sale price in the end and saved thousands. . If i was going to do a house up to sell on i'd only do the absolute minimum but have it well painted/looking well Quote Link to comment Share on other sites More sharing options...
vampire Posted February 25, 2017 Report Share Posted February 25, 2017 I did think they seemed fair / low considering the other prices I've seen online for renovating a 3 bed semi. How do you know if a house needs rewireing etc? Have a look at fuse board,if its not got rcd breakers on all circuits its considered old by surveyors,but wouldnt be alarmed unless its like the following; Are pendants twist wire are cables rubber are cables black with aluminium wire Does it have a seperate neutral wire is there no earth wire Worst of all has it been altered by diyer. These are all indications that its desperate/dangerous and needs rewire. Be very careful poking about looking at wiring,better to get a proffessional to look. Quote Link to comment Share on other sites More sharing options...
100milesaway Posted February 25, 2017 Report Share Posted February 25, 2017 I could do with finding some of these pubs you can buy houses over a pint ! Ha My first 7 properties were all derelict and in small villages all purchased over drink and a game of cards and dominoes.I am talking real derelicts but thats where the real money used to be made. There are lots of empty decaying homes in rural areas if you go looking for them., but how many people today are prepared to get their hands really dirty. Not many I fear most expect pristine immaculate homes with all the trappings of modern life on tap... The profit is allready been taken out of stuff like that. from Auntie. Quote Link to comment Share on other sites More sharing options...
Lloyd90 Posted February 26, 2017 Report Share Posted February 26, 2017 My first 7 properties were all derelict and in small villages all purchased over drink and a game of cards and dominoes.I am talking real derelicts but thats where the real money used to be made. There are lots of empty decaying homes in rural areas if you go looking for them., but how many people today are prepared to get their hands really dirty. Not many I fear most expect pristine immaculate homes with all the trappings of modern life on tap... The profit is allready been taken out of stuff like that. from Auntie. It's not just that! My sister looked at some fixer uppers, in the estate agents own words "Everyone wants a piece of the pie". The estate agent reckons you used to be able to pick up fixer uppers, do the work and sell after a while making a profit off your hard work, now everyone wants full asking price and often works out the cost of an extension/kitchen/bathroom and won't take a decent offer. No account of all the time and effort of getting it done. Quote Link to comment Share on other sites More sharing options...
digger Posted February 26, 2017 Report Share Posted February 26, 2017 Wasn't purchased at auction but if you type in Gibbons Mill to Google it's a house I worked on for three years. No expense spared as the pictures show. Cost of the refurbishment was over a million pounds. He's taking a huge loss at £3.8 mill. Not every flip is a decent earner ! Quote Link to comment Share on other sites More sharing options...
Royboy Posted February 26, 2017 Author Report Share Posted February 26, 2017 Wasn't purchased at auction but if you type in Gibbons Mill to Google it's a house I worked on for three years. No expense spared as the pictures show. Cost of the refurbishment was over a million pounds. He's taking a huge loss at £3.8 mill. Not every flip is a decent earner ! Wow that's lovely, how the other side live ! Ha Quote Link to comment Share on other sites More sharing options...
digger Posted February 26, 2017 Report Share Posted February 26, 2017 Couldn't work out how to post a link as usual. Not a bad place is it ? All the rooms were painted using the over priced tat that is Farrow and Ball. One was called "elephants breath". What the hell colour is the breath of an elephant? Quote Link to comment Share on other sites More sharing options...
Lloyd90 Posted February 26, 2017 Report Share Posted February 26, 2017 Couldn't work out how to post a link as usual. Not a bad place is it ? All the rooms were painted using the over priced tat that is Farrow and Ball. One was called "elephants breath". What the hell colour is the breath of an elephant? Maybe that added to the huge cost lol! I found that SOME workmen can jack the price right up if they think you can afford it! Quote Link to comment Share on other sites More sharing options...
digger Posted February 26, 2017 Report Share Posted February 26, 2017 We were on day rate which is what the client insisted on. We found people played post code pricing - the further down the drive they got the more the price went up. Decorator said £130 a day on the phone. Saw the house and it went up to £170 Quote Link to comment Share on other sites More sharing options...
Royboy Posted February 26, 2017 Author Report Share Posted February 26, 2017 It's a nice colour but not sure where the elephents breath comes into it Quote Link to comment Share on other sites More sharing options...
Mungler Posted February 26, 2017 Report Share Posted February 26, 2017 Couldn't work out how to post a link as usual. Not a bad place is it ? All the rooms were painted using the over priced tat that is Farrow and Ball. One was called "elephants breath". What the hell colour is the breath of an elephant? Brilliant! Quote Link to comment Share on other sites More sharing options...
wandringstar Posted February 26, 2017 Report Share Posted February 26, 2017 the house next door to me got snapped up by a wannabee developer, he paid top price and went about remodelling, extending and refurbing, he had another business and was doing this as an extra, he lavished a fortune on it and needed to sell it quickly as he had another project on the go, after the maths and 18 months he reckoned he made £80k. I tried to explain to him he had made nothing, as during that period of 3 years ago, if he had bought it and done nothing and held it, he would have made the same through rising prices. It aint for the faint hearted. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.